RRGF buys out Auto Plus Group’s additional issue
16 September 2008 (16:20)
Russian Retail Growth Fund (managed by Svarog Capital Advisors) acquired a shareholding in Auto Plus Group, both companies report.
Auto Plus Group’s GD Pavel Shestopalov says the fund has bought their additional share issue, while the former owners’ shares have gone down proportionally.
Vedomosti reports RRGF paid $45m for the share issue, whose actual percentage in the company’s authorized capital has been kept confidential.
Auto Plus Group comprises Toyota Center Yekaterinburg Zapad, Lexus Yekaterinburg, Auto Plus Sever (a used cars dealer), and Auto Plus Rent a Car. The first rumors regarding the possible transaction started circulating at around the end of August 2008, but Shestopalov was not prepared to provide any comments at that moment.
Auto Plus Group’s GD Pavel Shestopalov says the fund has bought their additional share issue, while the former owners’ shares have gone down proportionally.
Vedomosti reports RRGF paid $45m for the share issue, whose actual percentage in the company’s authorized capital has been kept confidential.
Auto Plus Group comprises Toyota Center Yekaterinburg Zapad, Lexus Yekaterinburg, Auto Plus Sever (a used cars dealer), and Auto Plus Rent a Car. The first rumors regarding the possible transaction started circulating at around the end of August 2008, but Shestopalov was not prepared to provide any comments at that moment.
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